Daiwa Capital Markets Reiterates “Neutral” Rating for XPeng (NYSE:XPEV)

XPeng (NYSE:XPEV)‘s stock had its “neutral” rating reiterated by equities researchers at Daiwa Capital Markets in a note issued to investors on Wednesday. They currently have a $24.00 price target on the stock. Daiwa Capital Markets’ target price indicates a potential upside of 6.12% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. UBS Group raised shares of XPeng from a “sell” rating to a “neutral” rating and raised their price target for the stock from $8.80 to $18.00 in a research report on Monday, February 24th. China Renaissance raised shares of XPeng from a “hold” rating to a “buy” rating and set a $16.70 price target for the company in a research report on Friday, November 22nd. Bank of America raised their price target on shares of XPeng from $18.60 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday. Macquarie reissued a “neutral” rating and set a $18.00 price target on shares of XPeng in a research report on Friday, February 7th. Finally, Citigroup raised shares of XPeng from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.70 to $29.00 in a research report on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, XPeng presently has an average rating of “Moderate Buy” and a consensus target price of $20.07.

XPeng Stock Down 7.9 %

Shares of NYSE:XPEV opened at $22.62 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.22. XPeng has a 52-week low of $6.55 and a 52-week high of $27.16. The company has a 50 day moving average of $17.67 and a two-hundred day moving average of $13.79. The company has a market capitalization of $21.30 billion, a price-to-earnings ratio of -25.99 and a beta of 2.68.

XPeng (NYSE:XPEV) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.36) by $1.17. XPeng had a negative net margin of 15.35% and a negative return on equity of 16.92%. As a group, analysts forecast that XPeng will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On XPeng

A number of hedge funds and other institutional investors have recently modified their holdings of XPEV. EverSource Wealth Advisors LLC raised its stake in shares of XPeng by 55.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,508 shares of the company’s stock valued at $30,000 after purchasing an additional 898 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of XPeng by 1,215.2% during the fourth quarter. Avior Wealth Management LLC now owns 2,775 shares of the company’s stock valued at $33,000 after purchasing an additional 2,564 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of XPeng by 50.7% during the fourth quarter. Lindbrook Capital LLC now owns 3,382 shares of the company’s stock valued at $40,000 after purchasing an additional 1,138 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of XPeng during the fourth quarter valued at about $41,000. Finally, Natixis bought a new stake in shares of XPeng during the fourth quarter valued at about $43,000. 21.09% of the stock is currently owned by institutional investors.

XPeng Company Profile

XPeng Inc designs, develops, manufactures, and markets smart electric vehicles (EVs) in the People's Republic of China. It offers SUVs under the G3, G3i, and G9 names; four-door sports sedans under the P7 and P7i names; and family sedans under the P5 name. The company also provides sales contracts, super charging, maintenance, technical support, auto financing, insurance, technology support, ride-hailing, automotive loan referral, and other services, as well as vehicle leasing and insurance agency services.